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Heartland BancCorp in Top 200 Community Banks and Thrifts in the Nation, Four Years Running12-May-2014

Gahanna, Ohio – May 1, 2014…Leading business management publication American Banker Magazine has just released its annual list of the..

Heartland BancCorp Announces Higher First Quarter 2014 Earnings15-Apr-2014

G. Scott McComb, Chairman and CEO of Heartland BancCorp, parent company of Heartland Bank, today reported first quarter 2014 net income of $1.234 mill..

William J. Schottenstein elected to the Board of Directors of Heartland Bank09-Apr-2014

G. Scott McComb, Chairman, President and CEO of Heartland Bank announced today that William J. Schottenstein was elected to the Board of Directors..

Columbus Business First: Heartland Bank stepping into limelight: Q&A with CEO Scott McComb20-Mar-2014

Mar 19, 2014, 12:00pm EDT Heartland Bank always has aimed to be the friendly neighborhood bank, and CEO Scott McComb (http://www.bizjournals.com/..

Heartland Bank’s Downtown Columbus Branch Opens This Week31-Jan-2014

Gahanna, Ohio – G. Scott McComb, Chairman, President and CEO of Heartland Bank is pleased to announce that the recently purchased 101 South ..

Heartland Bank to Accept Franklin County Property Tax Payments11-Dec-2013

Gahanna, Ohio - Scott McComb, Chairman, President and CEO of Heartland Bank, in partnership with the Franklin County Treasurer’s Office, is ..

Columbus Business First: Heartland Bank CEO remains hopeful despite industry’s mortgage slump12-Nov-2013

by Evan Weese, Columbus Business First. Banks in the second half of 2013 have grappled with how best to generate mortgage banking income ..

Heartland Bank teams up with Columbus Crew28-Oct-2013

Gahanna, Ohio – Scott McComb, Chairman, President and CEO of Heartland Bank, today announced an exciting partnership with central Ohio&rsqu..

Pennies to Dollars to Help Johnstown-Northridge Community Food Pantry28-Oct-2013

Heartland Bank is proud to support the Johnstown-Northridge Community Food Pantry. To learn more and see how you can support this great cause, p..

Heartland BancCorp Announces Higher 3rd Quarter 2013 Earnings: Directors Increase Dividend17-Oct-2013

Gahanna, Ohio - Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today reported a 2% increase in third quarte..

Pennies to Dollars to Help Glenwood Center for Early Child Development11-Sep-2013

Heartland Bank is proud to support the Glenwood Center for Early Child Development. To learn more and see how you can support this great cause, ..

Hampton Inn construction kicks off after financing finalized with Heartland Bank - Business First20-Aug-2013

Columbus hotel investor and operator David Patel has completed financing on a 152-room Hampton Inn & Suites and wasted no time in getting construc..

Pennies to Dollars to Help Reynoldsburg Church of the Nazarene20-Aug-2013

Heartland Bank is proud to support the Reynoldsburg Church of the Nazarene. To learn more and see how you can support this great cause, please..

Heartland Bank Receives 2013 WWR Outstanding Community Partner Award14-Aug-2013

August 13, 2013, Gahanna, Ohio – Weltman, Weinberg & Reis Co., LPA (WWR) presented Heartland Bank of Gahanna, Ohio with the annual 2013..

Heartland BancCorp Announces 2nd Quarter and Year-To-Date 2013 Earnings17-Jul-2013

Gahanna, Ohio - Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today reported earnings for the 2nd quarter ..

Heartland Bank to serve as Presenting Sponsor of 40th annual Westerville Music & Arts Festival05-Jun-2013

Gahanna, Ohio – June 4, 2013 Heartland Bank is proud to announce their support of the 40th annual Westerville Area Chamber of Commerce Music &am..

Heartland BancCorp Ranks 62nd in American Banker Magazine Top 200 Community Banks in the Nation08-May-2013

GAHANNA, OHIO – May 8, 2013….Leading business management publication American Banker Magazine has just released its annual list of th..

Pennies to Dollars to Help Gahanna Animal Hospital08-May-2013

Heartland Bank is proud to support the Gahanna Animal Hospital. To learn more and see how you can support this great cause, please feel free t..

Heartland BancCorp Announces 1st Quarter 2013 Earnings 15-Apr-2013

G. Scott McComb, Chairman and CEO of Heartland BancCorp, parent company of Heartland Bank, today reported 1st quarter 2013 net income of $1.091 millio..

Pennies to Dollars to Help the Licking County Humane Society15-Apr-2013

Heartland Bank is proud to support the Licking County Humane Society. To learn more and see how you can support this great cause, please feel ..

Over 300 Registered for Heartland Bank’s 6th Annual Money Matters Free Financial Summit11-Mar-2013

GAHANNA, OH – March 11, 2013 – Continuing the tradition of being a financial solutions resource, Heartland Bank was proud to present t..

A Man’s Dream Comes True22-Feb-2013

Gahanna, Ohio – February 21, 2013 – G. Scott McComb, Chairman, President & CEO of Heartland Bank is pleased to announce a partners..

Heartland Bank Reinvests in Downtown Columbus08-Feb-2013

February 7, 2013 - Gahanna, Ohio – G. Scott McComb, Chairman, President & CEO of Heartland Bank is pleased to announce Heartland Bank&rs..

Heartland BancCorp Announces 2012 Earnings22-Jan-2013

Gahanna, Ohio – G. Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today announced 2012 earnings. ..

Early Dividend Payout to Heartland BancCorp Shareholders29-Nov-2012

GAHANNA, OHIO – November 29, 2012 - G. Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank announced at..

Gerald McClain Family Honored During Heartland Bank’s Newark Office Grand Opening Celebration13-Nov-2012

GAHANNA, OHIO – November 13, 2012 … Over 150 people were in attendance at the Grand Opening Celebration and Ribbon Cutting Ceremony of He..

Heartland BancCorp Announces: Higher 3rd Quarter and Year-to-Date 2012 Earnings11-Oct-2012

Gahanna, Ohio – October 11, 2012 - G. Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today report..


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Heartland BancCorp Announces Higher 2nd Quarter and Year-To-Date 2011 Earnings

Heartland BancCorp Announces Higher 2nd Quarter and Year-To-Date 2011 Earnings

25-Jul-2011

Directors Declare 3rd Quarter 2011 Cash Dividend
 

 

For Immediate Release:                                                     

Contact: Tiney M. McComb – Chairman & CEO or, Phone: 614-337-4600
G. Scott McComb-Vice Chairman & President

Gahanna, Ohio - Tiney M. McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today reported sharply higher earnings for the 2nd quarter and six months ending June 30, 2011. Net income climbed 25% in the 2nd quarter 2011 over the prior year 2nd quarter. Net income of $1.297 million or $0.83 per diluted share for the three months ended June 30, 2011 compared to net income of $1.038 million or $0.67 per share for the second quarter of 2010.

Net interest income after provision of $4.743 million for the 2nd quarter of 2011 remained unchanged from the 2nd quarter of 2010. Interest income declined slightly over the prior year while interest expense declined 26% year over year. Non-interest income of $725 thousand for the 2nd quarter of 2011 increased $264 thousand or 57% over the prior year quarter. Operating expenses declined $95 thousand or 3% below 2010 2nd quarter levels.

Year to date 2011 net income increased 22% over the same period in 2010. Net income of $2.557 million or $1.65 per diluted common share compares to earnings of $2.104 million or $1.36 per diluted common share for the first six months of 2010. Net interest income after provision expense was $9.378 million for the first six months of 2011, up 2% compared to $9.198 million for the same period in 2010. The increase in net interest income was due to a 26% decrease in interest expense on deposits and borrowed funds partially offset by a 5% decline in interest income on earning assets. Both declined as a result of continued stable low interest rates while the bank’s loan and deposit portfolios repriced at lower rates during the first half of 2011. Noninterest income totaled $1.480 million, up 25% in 2011 compared to $1.184 million for 2010. Non-interest or operating expense of $7.342 million declined by $122 thousand or 2% in 2011 over $7.464 million for the 1st 6 months of 2010.

Chairman McComb noted, “I am pleased to report higher year-over-year quarterly and year-to-date earnings supported by a strong net interest margin, higher other operating income and lower operating costs providing strong core earnings growth. Lower operating costs reflecting productivity initiatives have been an important strategic objective. Heartland BancCorp continues to maintain a ‘well capitalized’ capital position supported by solid core earnings and liquidity. I am particularly encouraged to report Heartland’s solid year-over-year growth in shareholders’ equity. Heartland BancCorp’s book value per share of $31.13 represents a 6% increase over the prior year.”

Other financial highlights for the first half of 2011 include:

•Total assets increased to $551 million up 4% over 2010.
•Deposits increased to $464 million
•Book value per share increased $1.63 or 6% to $31.13
• Shareholders’ equity increased by $2.6 million or 6% to $47.9 million.

During their July 2011 meeting, the Directors of Heartland BancCorp declared a 3rd quarter 2011 cash dividend of $0.3217 per share to shareholders of record September 25, 2011, payable October 10, 2011. Based on the closing price of our common stock on June 30, 2011, this dividend represents an annualized dividend yield of 4.65%. For the six months ending June 30, 2011 Heartland BancCorp has recorded a dividend payout ratio of 39%.

Heartland Bank provides a complete line of loan and deposit products accessible from any of our banking offices and ATMs, as well as from home or office using Heartland’s telephone banking at 416-BANK or worldwide access at www.heartlandbank.com

Heartland BancCorp is a registered Ohio bank holding company and the parent of Heartland Bank, which operates eleven full-service banking offices. Heartland Bank is a member of the Federal Reserve, a member of the Federal Deposit Insurance Corporation and an Equal Housing Lender. Heartland BancCorp is currently quoted on the over-the-counter (OTC) Bulletin Board Service under the symbol HLAN. 



                                              [HEARTLAND BANCCORP EARNINGS PROFILE ATTACHED]

 

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